Florida Banking July 2023

6 Key Factors to Planning Marketing Budget Allocation Determining a marketing allocation strategy requires careful consideration of several key points. At Vericast, we recommend these six important factors to keep in mind: 1. Targeting approach – Choose a level and approach designed to effectively reach and engage your audience. 2. Audience – Gain a better understanding of your audience to reach the right people and optimize ROI. 3. Channels – Choosing the right channels can have a significant impact on the success of a campaign in areas of reach, engagement and measurement. 4. Reach – Achieve maximum reach for building brand awareness, increasing market penetration and optimizing cost efficiency. 5. Frequency – Measuring how often your audience is exposed to your message plays an important role in determining message retention and achieving a higher ROI. 6. Price – Understanding how price impacts channels, strategies, innovation, and competitors affects the total cost of a campaign. Let’s explore the importance of understanding, managing, and collaborating on consumer data, and the key strategies and best practices for optimizing marketing performance and driving business growth. Data Informs and Optimizes Acquisition Marketing Strategies By using data and analytics to inform your acquisition marketing strategies, you can be more strategic and purposeful, more cost-effective, gain better customer insights, and generate more effective leads. Here’s ways data information and analysis enhance acquisition marketing: • Strategic and Purposeful – By analyzing consumer data, you can identify the most effective channels and tactics for reaching your target audience and create campaigns that are tailored to their specific needs and interests. • Cost-Effective – By targeting specific segments, you can reduce wastage and optimize your marketing spend. Additionally, by analyzing the performance of your campaigns in real time, you can quickly identify and adjust any campaigns that are underperforming, allowing you to save money and maximize ROI. • Better Insights – Gain a deeper understanding of your customers' and prospects’ needs and preferences. This can help you to create more targeted and personalized marketing messages that resonate with your audience, increasing the likelihood of converting them into customers. • High-Quality Lead Generation – By analyzing customer data, you can identify potential customers who are most likely to be interested in your financial institution’s products or services and create campaigns that are designed to appeal to them specifically.

Unlock the Secret to Omnichannel Acquisition Marketing Success An omnichannel acquisition strategy relies on quality first- and third-party data to provide personalized, consistent, and optimized experiences for customers across multiple channels, such as online, mobile, email, print and in-branch. By leveraging both first- and third-party data that is gathered, vetted, and optimized in partnership with an experienced data vendor, financial institutions can gain a more complete and accurate picture of their customers and deliver the best possible experience. Lisa Nicholas is the vice president of Strategy, Financial Services at Vericast. She specializes in marketing and digital transformation for the financial services industry. Nicholas has more than 30 years of experience in the banking and tech industries. She has worked with companies to transform their marketing, sales, lending, branches, and operations, focusing on leveraging technology and data for an omnichannel strategy. She can be reached at 512 535-8365 or lisa.nicholas@vericast.com. Vericast offers advanced data collection, enhancement, and analysis capabilities that help optimize acquisition marketing strategies. Our AI-powered predictive insights and industry-leading analytics provide valuable data that informs better decision-making, ultimately resulting in desirable outcomes.

WWW.FLORIDABANKERS.COM JULY 2023 — 15